This is my version of how (IMO) the tanks in this Game rank in penetration.

For easiness, I will list the top two guns of each tank and rate their penetration capabilities tier for tier.

Also this isn't about damage or gun handling overall. IT IS THE PENETRATION CAPABILITIES and SO DONT say that why is most of this bad/average because penetration,penetration and penetration

and so that I don't have a pain to do low tier, I'll do tier 3<=

This is all decided on how good it can go through frontal armor of the tiers it faces

Also, I will be looking at regular ammo primarily, but in some cases I will look through others

Ofc, I haven't gone through every tank in the game (Not that rich ) so if I make any misjudgments or additional notes, PM me and I will decide and add that in, or if there is constructive feedback, post it down, and also this is in a random order (so no med list or TD)list). Notes done? Good, now to the ranking itself

My system

Terrible- Gun is so bad, that you are very limited on the battlefield/or extremely situational

Quite Bad- Good, can pass you through a few battles, but leaves a lot to be desired

Average/Good enough- Good, can pass you through most battles but beware of a certain few tanks that can be a pain to hit

Nice- Can stand itself quite well and can pose quite a danger to the enemy in terms of penetration

Great- One of the best of its tier. Poses a high chance of penetrating all the tanks it faces, albeit a few exceptions are possible

Impeccable-The Top 4, if not the best of the tier. Shouldn't need to worry about going through the enemy.

Tank List

Tier III

M3 Stuart- US- Can pen most in it's tier, but watch out for French heavies, the Hetzer and the Valentine II where possible and upper tiers as a whole

Top Gun- 37 mm gun

2nd/Top gun- 37 mm gun M5

Marder II- Germany- One of the best in tier III, can easily go through all the tanks it faces normally (including tier 4 giants)

Top Gun- 75cm Pak 40

Stock Gun- 76.2mm Pak 36

Pz III A - Germany- Great light tank, and while the tier iii gun does satisfy, more could be asked for

Top Gun- 2 cm Flak 38

2nd Top Gun- 5 cm Kwk 38

M2 Medium- US- Good medium tank but doesn't have totally reliable ammo, and can be frustrating for conservative money earners to pay for prammo

Top Gun- 37 mm gun M6

2nd Top Gun- 75 mm Howitzer M3 (Howitzer Prammo is great though)

T-46- USSR- Very versatile light tank, but may need prammo for hetzers and Matilda, especially with the howitzer and autoloader

Top Gun- 45 mm VT-42

2nd Top Gun- 37 mm Automatic SH-37

3rd Top Gun- 76 mm L-10

BT-7- USSR- Same description as T-46

Top Gun- 45 mm VT-42 (same as T-46)

2nd Top gun- 37 mm ZIS-19

Medium III- UK- Poorly armored (I mean REALLY poor armor) but has two punchy guns to make up for it

Top Gun- QF 6-pdr 8

2nd Top Gun- QF 2-pdr

Cruiser III-UK- Fast and has a great gun

Top Gun- QF 40 mm Bofors

Pz 38(t)-Germany- Somewhat adequate armor, but do not pack the 2 cm

Top Gun- 2 cm Flak 38

2nd Top Gun- 47 mm KWK

Chi-Ha-Japan- Bad Armor but one of the best guns at tier III that is not a TD

Top gun- 47 mm Gun

Ke-Ni- Japan- Same as it's cousin in terms of armor but very lacking gun at tier IV, yet excellent at same tier

Top Gun- 37 mm Gun Type 1

D2- France- Slow but well armored. Gun goes through most enemies but again watch out for tier 4 monsters

Top Gun- 47 mm SA37

T82-US- Has a monstrous howitzer at tier III but can falter at tier IV, albeit there is a nice alternative and punchy gun

Top Gun- 57 mm Gun M1

2nd Top Gun- 105 mm AT Howitzer M3

SU-76-USSR- Same as Marder but slightly less penetration

Top Gun- 57 mm ZIS-2

2nd Top Gun- 76 mm ZIS-3

Valentine AT-UK- Same description as T82, though the howitzer has less penetration

Top Gun- QF 6-pdr AT gun

2nd Top Gun- 3.7 inch AT Howitzer

Pz II G- Germany- Very good light with a gun used in tier 5

Top Gun- 3 cm M.K 103

Pz IV A- Same as M2 Medium about Howitzer

Top gun- 75 mm KWK 37 L/24

UE 57-France- Nice gun, similar to Pz Jag I but upgunned

Top gun- 6-pdr AT gun MK IV

TIER III DONE

Tier IV

Luchs-Germany-Same description as Pz II G, but gun effectiveness is lower. Single shot gun is inadequate and will need prammo

Top Gun- 3 cm M.K 103

M5 Stuart-US- Passable gun at tier IV, but abysmal at higher tiers

Top Gun- 37 mm gun T 16

M8A1-US- Excellent choices of guns, and are very good

Top Gun- 57 mm Gun M1

2nd Top Gun- 3 inch gun AT gun M7

T40-US-Even better choice of guns than it's cousin

Top Gun- 76 mm AT Gun

M3-Lee-US- Technically a Medium but has TDs gun

Top Gun- 75 mm Gun M3

Hetzer-Germany- Great Gun Selection, but the derp may need some Prammo for KVs and Matildas

Generally the derps are not recommended except in very few situations, since they have been nerfed below their minimum usefulness level by Wargaming. And this is something they need to address one day, since you've got a bunch of pointless guns just sitting around like discarded empty wrappers in the module tree. I mean, a howitzer with 20 mm HE pen at tier 4? Seriously?!?

The only tanks that can run derps adequately (of the ones presented) are the M2 Med (crazy expensive though), T82 (decent HE pen for the tier), Alecto (solid values for both AP and HE with Cal. Shells, bad non-APCR HVAP), and Hetzer (mostly a sealclubber's toy due to its bad AP/HE pen and terribad reload).

In the Pz IV A's case it's less about being adequate and more about being the only acceptable option, since the 5 cm L/42 is an awful gun (terrible dispersion, aim time and reload for a non-derp single-shot, you get outclassed by every 45/47 mm gun, including that on the 38(t)). For all the rest a non-derp is always the better choice.